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is in negotiations to prevent the country from falling over a fiscal cliff earlier today i was joined by hugh mancini gum in our l.a. studio to shed some light on this bill. well liz i have to say that if you look back on the video privacy protection act which actually was passed twenty five years ago and it was passed specifically because there was concern that the media or others might get ahold of maybe porn you're watching or other salacious videos when you went into your local blockbuster and now if you look at it times have really changed and people are saying what do you mean i can't share what i'm watching on my photo stream on our on my sharing stream and on facebook the reality is you can share if you can use this below to display what your customers are watching whether you're netflix your hulu whether you're doing it through facebook or some other major social media site so at the end of the day it is the marketing side that's going to get a great benefit for this which is why it was a great legislative agenda item for netflix all right sell a good deal there for the marke
is in negotiations to prevent the country from falling over a fiscal cliff earlier today i was joined by hugh mancini gum in our l.a. studio to shed some light on this bill. well liz i have to say that if you look back on the video privacy protection act which actually was passed twenty five years ago and it was passed specifically because there was concern that the media or others might get ahold of maybe porn you're watching or other salacious videos when you went into your local blockbuster...
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stocks continue to fall on fiscal cliff worries president and congress back in d.c. to talk about n'ozn budget today. toyota 1.1 billion dollar charge to settle a lawsuit has to do with more than 10 million vehicles recalled for unintended acceleration from claims the value of vehicles went down as a result. k)Ñ exchange#dww, with the bloomberg business report. >>> coming up, do you use those companies that give you a cash advance on your paycheck? you magb(:l be getting some of protected panda.id;gp >> good morning. 5:53. you see the embarcadero, bay bridge you don't see rain or traffic. we'll check in with sue and find out what is going on, on the highways. we'll find out where the rain is with mike. >>> u.s. department of commerce is due to release figures for new home sales, today's updates will hold stead if i not rise a bit they predict 375,000 in new sales. housing numbers slipped last month, new building permits ticked higher, commerce department is expected to release its new report at 7:00 this morning. >>> thousands of california residents could be gettin
stocks continue to fall on fiscal cliff worries president and congress back in d.c. to talk about n'ozn budget today. toyota 1.1 billion dollar charge to settle a lawsuit has to do with more than 10 million vehicles recalled for unintended acceleration from claims the value of vehicles went down as a result. k)Ñ exchange#dww, with the bloomberg business report. >>> coming up, do you use those companies that give you a cash advance on your paycheck? you magb(:l be getting some of...
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house republicans tossed the fiscal cliff problem to the senate today. saying once the senate has a plan congress can go forward. john fowler investigated some of the latest moves and joins us live with what could happen a week from today. john? >> reporter: do mog, we get deep spending cuts and across- the-board tax hikes. con shull staffers told me -- congressional staffers told me today, expect a bumpy ride of the halls of power empty, although negotiateders and the president are back at work. >> at the very least let's agree right now on what we already agree on. >> reporter: an olive branch to the gop and carrot to corporate giants, including the bay area's google and apple. the administration now suggesting cutting corporate tax rates. the u.s. has among the world's highest. but closing loop holes that helped google, for instance, avoid $2 billion in taxes last year. >> corporations are concerned because they're not sure the extent to which exemptions would be eliminated. >> reporter: wells capital management senior economist gary slosberg is optim
house republicans tossed the fiscal cliff problem to the senate today. saying once the senate has a plan congress can go forward. john fowler investigated some of the latest moves and joins us live with what could happen a week from today. john? >> reporter: do mog, we get deep spending cuts and across- the-board tax hikes. con shull staffers told me -- congressional staffers told me today, expect a bumpy ride of the halls of power empty, although negotiateders and the president are back...
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are returning to washington today to deal with fukushima daiichi -- to deal with the fiscal omq= cliff issu. retailers are doing a better job of controlling inventories, macy's and abercrombie & fitch don't have as much merchandise leftover they need to clear out.÷s+0t netflix trying if get more social, it is waiting for president obama to sign a bill passed by congress that removes restrictions on companies sharing video rental history, once it is allowed to do that netflix users will be able to share information with >m facebook that is business news live at the new york stock exchange, ellen brightman, bloomberg . >>> mike is here with a look at the forecast and our little bitty break. >> you are coming up with a lot of neat technical terms. little bitty break, like that.wy the rain. can see cloud cover starting to open up=/w, as we k down to the south from our roof cam at the embarcadero center with the lights still on, ferry building to the bay bridge, good news, no rain out of these clouds. doppler tracking waiting for anything to fall, it is not going to happen. no rain, so th
are returning to washington today to deal with fukushima daiichi -- to deal with the fiscal omq= cliff issu. retailers are doing a better job of controlling inventories, macy's and abercrombie & fitch don't have as much merchandise leftover they need to clear out.÷s+0t netflix trying if get more social, it is waiting for president obama to sign a bill passed by congress that removes restrictions on companies sharing video rental history, once it is allowed to do that netflix users will be...
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and time is ticking down on the "fiscal cliff" clock. >> not likely to make a deal before the 1st. >> reporter: cbs 5 political analyst joe tuman says this is washington politics at its worst. >> the only thing that's going to force both sides to negotiate is going over the deadline. people will vote for it. they will be able to say exactly the opposite. >> reporter: in the meantime, consumers suffer. that's because we're about to take the plunge off the dairy cliff. a farm bill expires at the end of the year meaning the government reverts back to the 63-year-old pricing formula for milk and those costs are passed to you. nogallon of milk is about $3.50
and time is ticking down on the "fiscal cliff" clock. >> not likely to make a deal before the 1st. >> reporter: cbs 5 political analyst joe tuman says this is washington politics at its worst. >> the only thing that's going to force both sides to negotiate is going over the deadline. people will vote for it. they will be able to say exactly the opposite. >> reporter: in the meantime, consumers suffer. that's because we're about to take the plunge off the dairy...
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employers can't be sure how much to deduct next week because of the "fiscal cliff." if you are on extended unemployment, those checks could also disappear by next friday. with no deal in congress, the jobless benefits end. and for those depend on the on those extend and unemployment checks on a weekly basis, right now will be the time to ration food since it's still not certain that there are benefits coming next week. and for those trying to plan ahead for anyone about to pass, the inheritance cast could shoot up to 50% if we go over the cliff. and not to mention the stock market, we all know that investors do not like uncertainty. so really hitting us from all sides. >> it's like we have one foot over the cliff already. >>> did you give thought to the "fiscal cliff" when doing your christmas shopping? many americans did because cbs 5 reporter mike sugerman tells us retail numbers weren't good. >> reporter: i'm at union square which is mobbed. it's swinging. i spent the day here and it didn't get active until a couple of hours ago and as i look around, i don't see a
employers can't be sure how much to deduct next week because of the "fiscal cliff." if you are on extended unemployment, those checks could also disappear by next friday. with no deal in congress, the jobless benefits end. and for those depend on the on those extend and unemployment checks on a weekly basis, right now will be the time to ration food since it's still not certain that there are benefits coming next week. and for those trying to plan ahead for anyone about to pass, the...
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. >> the country is inching closer to falling off the so-called "fiscal cliff" -- a series of tax hikes and spending cuts set to take effect in six days. and there still seems to be no signs of compromise between congress president obama is cutting his holiday vacation in hawaii short. and will return to washington tomorrow. house and senate members are expected to reconvene tomorrow as well. without a budget agreement, automatic tax increases for everyone and deep spending cuts will be triggered in the new year. the main dispute continues to be over taxes. >> in national news. dallas cowboys nose tackle josh brent has been formally indicted on a charge of intoxication manslaughter. for the crash that killed a teammate. brent was arrested earlier this month after police say he flipped his car while speeding though a neighborhood in suburban dallas. brent survived the crash. but his friend and teammate. practice squad member jerry brown. died at a hospital. intoxication manslaughter carries a maximum sentence of 20 years in prison. no court dates have been set. >> right now parts of the
. >> the country is inching closer to falling off the so-called "fiscal cliff" -- a series of tax hikes and spending cuts set to take effect in six days. and there still seems to be no signs of compromise between congress president obama is cutting his holiday vacation in hawaii short. and will return to washington tomorrow. house and senate members are expected to reconvene tomorrow as well. without a budget agreement, automatic tax increases for everyone and deep spending cuts...
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cliff and then taxes will rise, right, but then congress will reconvene on january 3rd and vote to cut taxes. is that appliable solution in your mind? >> it kind of it, pretty much what i feel will happen. they have a little bit of wiggle room. the majority of this is not going to be felt until 2014 for the majority of the income tax rise so that causes congress to force them to make a deal knowing that we actually are operating under a higher tax rate right now, even though americans won't feel it, so it's almost like an additional leverage for those who actually want to make a deal and get something done. i just want somebody, like starbucks, we all need to come together. >> and quit kicking the can down the road, darn it. >> exactly. >> ryan thank you for being with us this morning. >> thank you. >> ryan has been with us all week tackling the fiscal effects on your pocketbook. tomorrow, what the fiscal cliff means for your retirement. >>> from the strange case of the technology pioneer john mcafee on the run to so many tragic shootings, we have the top crime and punishment stories o
cliff and then taxes will rise, right, but then congress will reconvene on january 3rd and vote to cut taxes. is that appliable solution in your mind? >> it kind of it, pretty much what i feel will happen. they have a little bit of wiggle room. the majority of this is not going to be felt until 2014 for the majority of the income tax rise so that causes congress to force them to make a deal knowing that we actually are operating under a higher tax rate right now, even though americans...
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but the fiscal cliff will have happened. and one reason is i think it will be much too hard for the house to agree to a bill that uncouples the tax hikes. in other words, maybe raise taxes on one group, but not another group. that removes the leverage that i think republicans really feel they need in order to get the kind of spending cuts and entitlement reform that they feel is really just fundamental to reforming the nation's debt and the economy staring down a healthier path. so for that reason, yeah, i don't think they're going to have anything by the end of the week. jon: we just heard harry reid saying, oh, it's all john boehner's fault in the house of representatives. the president also seems to be pointing at the house. where does the truth lie here? i mean, who is, who needs to budge? >> well, technically the house and senate have each passed bills, but they don't agree on the bills that they've passed. for republicans i know from talking to even the most moderate republicans they are willing to vote for a tax rate
but the fiscal cliff will have happened. and one reason is i think it will be much too hard for the house to agree to a bill that uncouples the tax hikes. in other words, maybe raise taxes on one group, but not another group. that removes the leverage that i think republicans really feel they need in order to get the kind of spending cuts and entitlement reform that they feel is really just fundamental to reforming the nation's debt and the economy staring down a healthier path. so for that...
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that might avert the so-called fiscal cliff. the president pulled the plug on his holiday trip to hawaii and arrived in washington shortly after 11:00 in hopes of prodding congress to lock in taxes for all but the wealthiest 2%. so a republican source told us he would be sending legislation to capitol hill, but the white house is telling us no, that is not the case. you have the president there at the white house. you have the senate in session and they are scattered throughout the country and taxes are going up on january 1st. let's listen to harry reid. he is not happy about the house and being away. he is the top senate democrat. >> we are here in washington working. we have the house of representatives out watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. >> here's a reality. reid said it's beginning to look to him as though we will plunge over the cliff come tuesday. they are keeping an eye on washington to see what develops. since it looks as though we ar
that might avert the so-called fiscal cliff. the president pulled the plug on his holiday trip to hawaii and arrived in washington shortly after 11:00 in hopes of prodding congress to lock in taxes for all but the wealthiest 2%. so a republican source told us he would be sending legislation to capitol hill, but the white house is telling us no, that is not the case. you have the president there at the white house. you have the senate in session and they are scattered throughout the country and...
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then we have those five days, ali, as you say, until we go over the fiscal cliff. ali, one other number, six days until the markets open after the fiscal cliff and i'll throw a second number, one week until the new congress begins, so they are hard up against some big deadlines. >> the market implication is important because markets have done very, very well this year, lisa, and there's some suggestion if congress doesn't get it together before the new year, markets may force them to do so. we'll be talking more about that later in the show. lisa, thanks so much. we'll check in with you later. >>> piling on the concerns, treasury secretary tim geithner has warned congress hat u.s. will reach its debt ceiling on monday. that is when the government reaches its legal borrowing limit. now, this could pose a bigger threat to the nation's credit rating than the fiscal cliff. treasury can keep the government operating for a few weeks using emergency measures, but congress needs to act on this too to avoid a full-blown debt crisis. alina cho. joins us with the ret of the t
then we have those five days, ali, as you say, until we go over the fiscal cliff. ali, one other number, six days until the markets open after the fiscal cliff and i'll throw a second number, one week until the new congress begins, so they are hard up against some big deadlines. >> the market implication is important because markets have done very, very well this year, lisa, and there's some suggestion if congress doesn't get it together before the new year, markets may force them to do...
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patti ann: yet another fiscal cliff concern. the price of milk, if congress doesn't take action before new year's day the price could more than double. dominic di-natale is live in los angeles right now to explain for us. hi, dominic. >> reporter: hi, patti ann. milk could reach eight bucks a gallon. currently $3.65. a bill that covers billions of dollars in agricultural subsidies. if they don't do that government will have to buy up massive quantities of milk because of outdated 1949 law. they could sell their milk directly to the government first, would be obliged to pay twice the market rate. that would create a milk shortage and spike the prices consumers pay. the senate passed a farm bill. agricultural committee passed a similar bill. they are not identical. differences aren't so wide just that the full house of representatives hasn't approved the bill and it has come down to the wire, patti ann. >> the farm bill is low hanging ornament on the congressional christmas tree, if they just embrace it, they can automatically com
patti ann: yet another fiscal cliff concern. the price of milk, if congress doesn't take action before new year's day the price could more than double. dominic di-natale is live in los angeles right now to explain for us. hi, dominic. >> reporter: hi, patti ann. milk could reach eight bucks a gallon. currently $3.65. a bill that covers billions of dollars in agricultural subsidies. if they don't do that government will have to buy up massive quantities of milk because of outdated 1949...
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the fiscal cliff. it may already be too late with the way things work on capitol hill. let's bring in jonathan allen, the senior washington kpon for politico. jonathan, let's get to that. i think if everything lines up they could possibly get a deal signed from the fiscal cliff but when does that ever happen? >> yes, i think the problem, drew, there isn't that much time when congress has a consensus they can move quickly but there's no indication of that right now. all of the players seem locked into their strategies. for folks familiar with economic theory, this is a nash equilibrium. they believe given what the other folks are doing their pursuing their optimal path and that path seems to be leading us toward that fiscal cliff. i think most folks in washington expect that that will happen rather than some sort of fix here in the last couple days. >> so the senators and the congressmen from both parties have basically done the analysis and feel in their own hearts that they will not be too terribly ha
the fiscal cliff. it may already be too late with the way things work on capitol hill. let's bring in jonathan allen, the senior washington kpon for politico. jonathan, let's get to that. i think if everything lines up they could possibly get a deal signed from the fiscal cliff but when does that ever happen? >> yes, i think the problem, drew, there isn't that much time when congress has a consensus they can move quickly but there's no indication of that right now. all of the players seem...